Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

Note 16 – Revenue from Contracts with Customers

Contract Balances

The Company has contract assets primarily related to unbilled revenue for revenue recognized related to products that are deemed to have no alternative use whereby we have the right to payment. Revenue is recognized in advance of billing to the customer in these circumstances as billing is typically performed at the time of shipment to the customer. The unbilled revenue is included in the contract assets on the condensed consolidated statements of financial position.

The Company did not have any contract liabilities as of September 30, 2019 or December 31, 2018.

The following table presents contract assets by operating segment as of September 30, 2019 and December 31, 2018:

(Dollars in thousands)	September 30, 2019		December 31, 2018
Advanced Connectivity Solutions	$	—	$	—
Elastomeric Material Solutions	1,347		943
Power Electronics Solutions	20,965		19,738
Other	1,758		2,047
Total contract assets	$	24,070	$	22,728

No impairment losses were recognized for each of the three- and nine-month periods ended September 30, 2019 and 2018 on any receivables or contract assets arising from our contracts with customers.